Living in an era of technological change? [...]

Some economic historians like Robert J. Gordon actually contend that we’re not in a period of great technological innovation at all; instead, we find ourselves in a period of technological stagnation. The changes brought about by the development of information technologies in the last 40 years or so pale in comparison, Gordon argues (and this is from his recent book The Rise and Fall of American Growth: The US Standard of Living Since the Civil War), to those “great inventions” that powered massive economic growth and tremendous social change in the period from 1870 to 1970 – namely electricity, sanitation, chemicals and pharmaceuticals, the internal combustion engine, and mass communication. But that doesn’t jibe with “software is eating the world,” does it? (Source)

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